16 August 2012

INTRADAY TIPS FOR 17 AUG 2012

SELL ICICIBANK FUTURE BELOW 960 TG 945, 920 SL 975.
BUY RELIANCE FUTURE ABOVE 821 TG 834,847 SL 804.
FOR TATASTEEL SHORT STRANGLE STRATEGY VISIT OPTION
LT CALL GIVEN IN POST ACHIEVED ALL TARGETS.
THE CALL GIVEN OF NIFTY FUTURE  GIVEN IN LAST POSTIS INNITIATED, CONTD… TO HOLD.
THE CALL OF M&M FUTURE  GIVEN IN  LAST POSTACHIEVED FIRST TG.
 Wow!!!!! THE CALL GIVEN OF IDFC in  LAST POST ROCKS.
Index edged higher in morning session ,level 5380 provided a good support to it for a long time but in late trade index slipped into red finally shattered at 5365.
One should not take any kind of positions tomorrow, because we cannot predict where the index is going to open on Tuesday(after a close of 3 days).The end-of-day chart is looking quite strong; chances are, we would see an attempt to clear the 5400-level tomorrow. The range between 5370 and 5395 is a major support area for the day—so long as that is not broken you are unlikely to see the enthusiasm of the bulls to push the market up waning in any manner. Once this range is taken out there would be an attempt to clear 5450-mark as well. Our understanding is that the level of 5400 for the Nifty is a very tough resistance and the bulls would require enormous firepower to overcome it.

RESISTANCE: 5380, 5400, 5425
SUPPORT      :5350, 5340, 5310

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